NeoGenomics, Inc. (NASDAQ:NEO) Position Boosted by Man Group plc
Man Group plc raised its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 1,231.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,797 shares of the medical research company’s stock after acquiring an additional 121,900 shares during the quarter. Man Group plc owned approximately 0.13% of NeoGenomics worth $2,891,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in NEO. Dimensional Fund Advisors LP lifted its holdings in shares of NeoGenomics by 17.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,138,241 shares of the medical research company’s stock valued at $14,352,000 after buying an additional 172,451 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of NeoGenomics by 21.6% during the 1st quarter. California Public Employees Retirement System now owns 130,447 shares of the medical research company’s stock valued at $2,669,000 after buying an additional 23,203 shares during the last quarter. American International Group Inc. lifted its holdings in shares of NeoGenomics by 49.3% during the 1st quarter. American International Group Inc. now owns 63,472 shares of the medical research company’s stock valued at $1,299,000 after buying an additional 20,957 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of NeoGenomics during the 1st quarter valued at about $639,000. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of NeoGenomics during the 1st quarter valued at about $132,000. 84.84% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on NEO. ValuEngine lowered NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC set a $27.00 price target on NeoGenomics and gave the company a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research lowered NeoGenomics from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Benchmark set a $27.00 price target on NeoGenomics and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, BidaskClub lowered NeoGenomics from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.75.
NEO opened at $18.75 on Wednesday. The business has a 50 day moving average price of $23.19 and a 200 day moving average price of $22.42. NeoGenomics, Inc. has a twelve month low of $11.05 and a twelve month high of $26.89. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.52 and a current ratio of 4.67. The firm has a market cap of $1.99 billion, a P/E ratio of 144.23 and a beta of 0.97.
NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, July 30th. The medical research company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. NeoGenomics had a return on equity of 4.97% and a net margin of 0.57%. The firm had revenue of $101.71 million during the quarter, compared to analyst estimates of $97.32 million. During the same period in the previous year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. As a group, analysts anticipate that NeoGenomics, Inc. will post 0.19 earnings per share for the current fiscal year.
In other news, Director Steven C. Jones sold 40,737 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $25.02, for a total transaction of $1,019,239.74. Following the completion of the transaction, the director now directly owns 245,234 shares in the company, valued at $6,135,754.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven C. Jones sold 1,691 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $25.00, for a total value of $42,275.00. Following the transaction, the director now owns 245,234 shares of the company’s stock, valued at $6,130,850. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,370 shares of company stock valued at $6,017,680. Corporate insiders own 8.80% of the company’s stock.
About NeoGenomics
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company’s laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.
Further Reading: The Role of a Fiduciary and Individual Investors
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